What is the position of Cyprus in the World Fuel Price Chart?

Which is the most expensive and which is the cheapest country?

cache 1500x3000 Analog medium 1420308 70604 1032022 Fuels, world, price of gasoline

The average price of gasoline (95) worldwide is 1,33 euros per liter, according to measurements of June 6, 2022. 

However, there is a significant difference in these prices between countries. As a general rule, richer countries have higher prices while poorer countries and oil producing and exporting countries have significantly lower prices.

Greece is the 6th most expensive country in the price of gasoline with the price reaching 2,356 euros.

The position of Cyprus is relatively high, which is 39th among 170 countries, with a price of 1,762.

The average price for Cyprus during the period February 28 to June 06 was 1,54 euros with a minimum of 1,41 euros on March 21 and a maximum of 1,76 euros on June 06.

A notable exception is the US which is an economically advanced country but has low gas prices.

The most expensive country is Hong Kong with 2,77 per liter while the cheapest is Venezuela with 0,021 euros per liter. 

Differences in prices between countries are due to various taxes and subsidies on gasoline. All countries have access to the same oil prices in international markets, but then decide to impose different taxes.

As a result, the retail price of gasoline is different. 

* The measurements were made on June 6, 2022.

FamagustaNews with information from globalpetrolprices.com